Bridgewater at Sherrills Ford

Bridgewater at Sherrills Ford is a new single family home development byD.R. Horton currently under construction at Slanting Bridge Road in Sherrills Ford, NC tucked away in the most natural setting. Nearby, is the sought after Lake Norman with water activities and endless sunsets. Bridgewater is nestled in a tree-lined setting, but is convenient to the bustle of Mooresville which includes, shopping, dining and entertainment. Minutes from the up and coming Denver area. Amenities will include a pool, cabana, playground and bocce ball. The Traditions Collection of Bridgewater will include stainless appliances, granite in kitchens and baths, hardwood floors, fireplace and even crown molding. D.R. Horton has thoughtfully designed, flexible 2-story plans and ranch floor plans that focus on today’s family lifestyles featuring superior craftsmanship. With this combination of location, amenities, pricing, and included features, it is easy to see why so many families are seeking this new hidden gem to call home. Prices in Bridgewater at Sherrills Ford for available units range from $250,990 to over $320,000. The development has a total of 158 units. Available homes sizes range from 1641 sqft up to 3501 sqft.

According to FNC’s Residential Price Index™ (RPI), U.S. home prices continued to rise at a brisk pace in March and up 0.9 percent nationwide.

March’s increase follows a strong momentum in February that recorded some of the largest unseasonable gains in many of the nation’s key housing markets. With continued low interest rates and easing credits, particularly recently launched low-down-payment conventional loans by Fannie Mae and Freddie, home prices are positioned for strong gains. This spring/summer home buying season already appears well under way across the West, South, and Midwest regions.

The latest development in the for-sale market shows the pace of home sales has picked up rapidly since March. The median time-on-market is down from 128 days in March to 106 days in April, the fastest seasonal pace for the month of April since the housing market began to recover in early 2012. The average asking-price discount is 3.3 percent, down from 4.2 percent in March.

Completed foreclosures in March comprise about 13.7 percent of total existing home sales, down by two percentage points from February’s 15.8 percent.

FNC’s RPI is the mortgage industry’s first hedonic price index built on a comprehensive database that blends public records of residential sales prices with real-time appraisals of property and neighborhood attributes. As a gauge of underlying home values, the RPI excludes final sales of REO and foreclosed homes, which are frequently sold with large price discounts, likely reflecting poor property conditions.

The attached table shows seasonally unadjusted month-over-month (MOM) and year-over-year (YOY) changes in three composite indices. The national index is based on recorded sales of non-distressed properties (existing and new homes) in the 100 largest metropolitan areas. Both the national and 30-MSA composite indices were up at a seasonally unadjusted rate of 0.9 percent. After a relatively steep gain in February, the 10-MSA composite moderated slightly during the month and was up 0.6 percent. Quarterly performance across the indices was dragged lower by a weak January, registering a small gain of about a half percentage point. Average home price appreciation ticked up slightly but remained in the 4.5-5.0 percent range nationwide.

The attached chart tabulates the latest MOM and YOY price trends for each MSA in the FNC 30-MSA composite index. Home prices are up in all MSAs except San Antonio, Baltimore, and New York. Of the 27 up-markets, 21 cities recorded more than a 1 percent MOM increase in March, led by Tampa, Nashville and Chicago at 3.4 percent, 3.2 percent, and 2.8 percent, respectively. For Chicago, Portland, Riverside, CA and Sacramento, March marks a second consecutive month of strong price momentum. Other cities that appear off to a strong start of the spring home buying season include Atlanta, Cincinnati, Dallas and Minneapolis.

While most of the nation’s housing markets have gained momentum, New York, San Antonio and Baltimore continue to show weakening prices as of March, down 1.6 percent, 0.3 percent, and 0.5 percent, respectively. Baltimore’s foreclosure sales have climbed rapidly in recent months, largely contributing to its continued price weakness. Foreclosure sales in New York also appear to be at three-year highs.

As of March, the fastest YOY growth markets are Las Vegas (13.1 percent), Riverside (12.0 percent), and Dallas (10.1 percent), which are followed by a number of other cities that also continue to enjoy robust appreciation: Los Angeles (9.6 percent), San Diego (9.4 percent), Orlando (9.4 percent), Miami (9.3 percent), Portland (9.2 percent), and Atlanta (8.7 percent).

Signaling growing confidence in the housing recovery, a majority of Americans once again named real estate the best long-term investment – a trend now continued for two consecutive years, according to a recently released Gallup poll.

Real estate edged out long-term investment options like stocks/mutual funds, gold, savings accounts/CDs and bonds, with 31 percent of Americans favoring housing for long-term gains. Twenty-five percent of Americans named stocks/mutual funds as the best investment long-term. Gold dropped from frontrunner in 2011 and 2012 to third, while savings accounts/CDs fell to 15 percent. Bonds dipped to just six percent.

The findings represent a significant change in consumer sentiment akin to the ongoing recovery. Notably, more Americans preferred savings accounts/CDs in 2012, as financial security remained critical for many in the wake of the crash.

Moreover, all major gender, age and income groups topped or tied the preference for real estate, coinciding with a number of recent initiatives set to increase opportunities for a diverse range of would-be buyers. These include the Fannie- and Freddie-backed three percent down payment program and the reassessment of credit strictures that have historically prevented borrowers from obtaining a mortgage.

Between July 2002 and April 2007, preferences for real estate fluctuated with the market, peaking at 50 percent during the boom and sinking to 37 percent as the economy nosedived. Preferences for real estate continued to fall through 2008 and 2009.

The Gallup poll was conducted April 9-12, 2015 from a random sample of 1,015 adults aged 18 and older living in all 50 U.S. states and the District of Columbia. For a complete look at responses, questions and trends, click here.